ECO501 Business Economics (8)

This subject introduces students to the economist's way of thinking about the activities of individuals and institutions (both private and government) which determine the nature of our business and social environment. The subject presents, applies and assesses the key theoretical principles in Microeconomics and Macroeconomics that enable us to make sensible decisions in a complex world.

Availability

Session 1 (30)
On Campus
CSU Study Centre Melbourne
CSU Study Centre Sydney
Online
Wagga Wagga Campus
Session 2 (60)
On Campus
CSU Study Centre Melbourne
CSU Study Centre Sydney
Online
Bathurst Campus
Session 3 (90)
On Campus
CSU Study Centre Melbourne
CSU Study Centre Sydney
Online
Albury-Wodonga Campus

Continuing students should consult the SAL for current offering details: ECO501. Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject Information

Grading System

HD/FL

Duration

One session

School

School of Accounting and Finance

Enrolment Restrictions

Available only to students studying honours and postgraduate courses. Not available to students who have completed MBA502 or ECO511.

Subject Relationships

ECO511 Paired Subject
MBA502 subjects have significant overlap in content but offered to different cohorts.

Incompatible Subjects

ECO511

Learning Outcomes

Upon successful completion of this subject, students should:
  • be able to apply demand and supply analysis to make a range of market related decisions
  • be able to identify and critically evaluate opportunities for specialisation and exchange
  • be able to make decisions that incorporate the relevant benefits and cost analysis
  • be able to explain and defend why it is important to understand the structure of the market in which a firm operates
  • be able to critically examine and demonstrate why it might be necessary for government to intervene in the production of goods and services and in the distribution of income
  • be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives.

Syllabus

This subject will cover the following topics:
  • The essence of economics: the reality of scarcity and the unavoidability of choice.
  • The key tool of economics: supply and demand.
  • The principle focus of economics: decision making at the margin.
  • The micro environment of economics: The structure of markets and market failure.
  • The macro markets of economics: employment, production, money and foreign exchange.
  • The integration of markets in economics: aggregate demand, aggregate supply and the multiplier.
  • The policy environment of economics: economic fluctuations, fiscal policy and monetary policy.

Indicative Assessment

The following table summarises the assessment tasks for the online offering of ECO501 in Session 2 2019. Please note this is a guide only. Assessment tasks are regularly updated and can also differ to suit the mode of study (online or on campus).

Item Number
Title
Value %
1
Assignment 1: discussion board posting
5
2
Assignment 2: discussion board comments
5
3
Assignment 3: essay questions
20
4
Assignment 4: essay question
10
5
Assignment 5: problem essay question
10
6
Final exam
50

The information contained in the CSU Handbook was accurate at the date of publication: July 2020. The University reserves the right to vary the information at any time without notice.

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